Banks have claimed shrinking margins are at fault for their decision to hold back part of the RBA's rate cuts, but RBA figures show the situation may not be as dire as claimed
A major bank is set to slash mortgage processing jobs with the closure of one of its service centres
The major banks have held back an average of 55bps of the RBA's cash rate cuts since September 2008
The coalface: For Aaron Giles of Newcastle-based Australian Property Finance, being a broker comes down to delivering on promises and “being nice to people”
Only one bank has thus far passed on the RBA's 50bp cut in full, with the majors holding back on home loan customers
The Reserve Bank’s 50bp cut, in one economist’s view, was an attempt to “hold the banks’ feet to the fire” on mortgage rates.